The top U.S. consumer watchdog has terminated a 2022 order punishing Wells Fargo for allegedly mishandling auto loans and mortgages, the bank said on Tuesday, bringing it a step closer to having the $1.

Wells Fargo & Co. said Tuesday the Consumer Financial Protection Bureau has terminated its 2022 consent order related to automobile lending, consumer deposit accounts, and mortgage lending products and services.

Analysts say the termination of a 2022 consent order with the CFPB is a sign that the bank's days under an asset cap may be numbered. But the consumer bureau, still led by Director Rohit Chopra, says Wells is still being scrutinized as a repeat offender.

Wells Fargo still operates under a growth cap that the Federal Reserve put on the bank in 2018 as a punishment for its behavior. That asset cap stands at $1.95 trillion.

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."

Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.

Wells Fargo said that its 2022 consent order with the Consumer Financial Protection Bureau relating to auto lending, consumer deposit accounts, and mortgage lending, has closed.

Wells Fargo’s Q4 results were positive, but regulatory issues linger. Find out why WFC stock is fairly valued despite potential growth from regulatory reform.

Despite a strong economy, the share of Americans making only the minimum credit card payment hit a 12-year high and delinquenices are rising.

New home sales grew to 683,000 in 2024 as home builders used price cuts and rate breaks to move more people into new houses.

Millennials have come a long way since their days of being called lazy or entitled. Despite reaching key milestones later than their parents once did, they are now wealthier than previous generations were at their age.